Acts and Regulations

T-1 - Teachers’ Pension Act

Section 22.1
Disposition versions

Full text
Reciprocal pension transfer agreements
22.1(1)In this section “approved employer” means
(a) the Government of Canada including any Crown Corporation or agency thereof;
(b) the Government of a province or territory of Canada,
(c) the Council of Maritime Premiers,
(c.1) The New Brunswick Association of Nursing Homes Incorporated - L’Association des foyers de secours du Nouveau-Brunswick Incorporée,
(d) the governing body of a city, town, village or rural community, the employees of which contribute to a pension or superannuation plan under the Municipalities Act, or any Act relating to the city, town, village or rural community, or
(e) any authority that operates a hospital facility, educational facility or electric power distribution system the employees of which contribute to a pension or superannuation plan or contribute to a corporation, board or commission that operates a pension plan for a group of employees in a province or territory of Canada.
22.1(2)The Minister, with the approval of the Lieutenant-Governor in Council, may enter into a reciprocal agreement with any approved employer which operates a superannuation or pension fund or plan for its employees, where, in consideration of the agreement of that approved employer to pay into the Teachers’ Pension Fund an amount determined in accordance with the provisions of the reciprocal agreement in respect of any employee of that approved employer who becomes or has become employed as a teacher, the Minister shall pay or arrange to be paid from the Teachers’ Pension Fund to that approved employer for the purpose of any superannuation or pension fund or plan established for the benefit of employees of that approved employer, an amount similarly determined in accordance with the provisions of the reciprocal agreement in respect of a teacher who ceases to be employed as a teacher to become employed by the approved employer.
22.1(3)The terms and provisions of an agreement entered into under subsection (2) have the same effect as if incorporated in this Act.
22.1(4)Notwithstanding subsection (2), the Minister may also enter into a reciprocal agreement with any approved employer that does not require a transfer of funds if, in the opinion of the Minister, such an alternate form of reciprocal agreement adequately protects the pension rights of transferring employees and results in an equitable allocation of the cost of pension benefits of transferring employees between the Province and the approved employer.
22.1(5)The provisions of any reciprocal agreement entered into by the Minister under this section shall include
(a) the basis of determination of the amount, if any, to be paid by the Minister to the approved employer or to the Minister by the approved employer;
(b) Repealed: 1987, c.58, s.4
(c) the conditions, if any, under which an employee may make supplementary contributions in order to receive full credit for his or her prior pensionable service;
(d) the disposition of contributions made by a transferring employee prior to his or her date of transfer;
(e) the conditions under which the reciprocal transfer agreement may be amended, suspended, replaced or terminated;
(f) any other provisions relevant to the intent of the agreement or necessary for the effective administration of the agreement.
22.1(6)Where a teacher ceased to be employed as a teacher to become employed by any approved employer with whom the Minister has entered into a reciprocal agreement, the Minister may pay or arrange to be paid to that approved employer, out of the Teachers’ Pension Fund, in accordance with the provisions of the agreement, all or any part of the required contributions made to the Teachers’ Pension Fund by the teacher in accordance with section 3, such amount representing employer contributions as the Minister determines, and such amount representing interest as the Minister determines, but no such payment or payments shall be made except with the written consent of the teacher.
22.1(6.01)Notwithstanding subsection (6), where the pensionable service in respect of which a payment or payments are to be made under subsection (6) is performed and credited after 1991, no payment or payments shall be made under subsection (6) unless the pensionable service is in accordance with subparagraph 8503(3)(a)(v) of the Income Tax Regulations under the Income Tax Act (Canada).
22.1(6.1)Repealed: 1999, c.44, s.15
22.1(6.2)Notwithstanding any other provision of this Act, a person referred to in subsection (6) who prior to January 1, 1963, discontinued teaching to take advanced training at a college and who resumed employment as a teacher following completion of that training may in respect of any period of time not exceeding one year and for the purpose of any superannuation or pension fund or plan established for the benefit of employees of that approved employer, elect to pay into the Teachers’ Pension Fund an amount equal to the amount required by the approved employer in respect of that period in accordance with the reciprocal agreement and the Minister shall pay or arrange to be paid from the Teachers’ Pension Fund to the approved employer that amount and no other amount in respect of that period on behalf of that person.
22.1(7)No teacher shall be subject to the provisions of any reciprocal agreement that does not require a transfer of funds, except with his or her written consent.
22.1(8)Where a person ceases to be employed with an approved employer with whom the Minister has entered into a reciprocal agreement to become employed as a teacher, the Minister may receive and pay into the Teachers’ Pension Fund such amount as is paid by the approved employer in accordance with the provisions of the reciprocal agreement.
22.1(9)Notwithstanding subsection (8), where the pensionable service in respect of which a payment or payments are to be made under subsection (8) is performed and credited after 1991, no payment or payments shall be made under subsection (8) unless the pensionable service is in accordance with subparagraph 8503(3)(a)(v) of the Income Tax Regulations under the Income Tax Act (Canada).
1975, c.61, s.7; 1976, c.56, s.5; 1978, c.57, s.11; 1986, c.78, s.3; 1987, c.58, s.4; 1989, c.40, s.2; 1992, c.52, s.30; 1999, c.44, s.15; 2005, c.7, s.81; 2008, c.45, s.37
Reciprocal pension transfer agreements
22.1(1)In this section “approved employer” means
(a) the Government of Canada including any Crown Corporation or agency thereof;
(b) the Government of a province or territory of Canada,
(c) the Council of Maritime Premiers,
(c.1) The New Brunswick Association of Nursing Homes Incorporated - L’Association des foyers de secours du Nouveau-Brunswick Incorporée,
(d) the governing body of a city, town, village or rural community, the employees of which contribute to a pension or superannuation plan under the Municipalities Act, or any Act relating to the city, town, village or rural community, or
(e) any authority that operates a hospital facility, educational facility or electric power distribution system the employees of which contribute to a pension or superannuation plan or contribute to a corporation, board or commission that operates a pension plan for a group of employees in a province or territory of Canada.
22.1(2)The Minister, with the approval of the Lieutenant-Governor in Council, may enter into a reciprocal agreement with any approved employer which operates a superannuation or pension fund or plan for its employees, where, in consideration of the agreement of that approved employer to pay into the Teachers’ Pension Fund an amount determined in accordance with the provisions of the reciprocal agreement in respect of any employee of that approved employer who becomes or has become employed as a teacher, the Minister shall pay or arrange to be paid from the Teachers’ Pension Fund to that approved employer for the purpose of any superannuation or pension fund or plan established for the benefit of employees of that approved employer, an amount similarly determined in accordance with the provisions of the reciprocal agreement in respect of a teacher who ceases to be employed as a teacher to become employed by the approved employer.
22.1(3)The terms and provisions of an agreement entered into under subsection (2) have the same effect as if incorporated in this Act.
22.1(4)Notwithstanding subsection (2), the Minister may also enter into a reciprocal agreement with any approved employer that does not require a transfer of funds if, in the opinion of the Minister, such an alternate form of reciprocal agreement adequately protects the pension rights of transferring employees and results in an equitable allocation of the cost of pension benefits of transferring employees between the Province and the approved employer.
22.1(5)The provisions of any reciprocal agreement entered into by the Minister under this section shall include
(a) the basis of determination of the amount, if any, to be paid by the Minister to the approved employer or to the Minister by the approved employer;
(b) Repealed: 1987, c.58, s.4
(c) the conditions, if any, under which an employee may make supplementary contributions in order to receive full credit for his prior pensionable service;
(d) the disposition of contributions made by a transferring employee prior to his date of transfer;
(e) the conditions under which the reciprocal transfer agreement may be amended, suspended, replaced or terminated;
(f) any other provisions relevant to the intent of the agreement or necessary for the effective administration of the agreement.
22.1(6)Where a teacher ceased to be employed as a teacher to become employed by any approved employer with whom the Minister has entered into a reciprocal agreement, the Minister may pay or arrange to be paid to that approved employer, out of the Teachers’ Pension Fund, in accordance with the provisions of the agreement, all or any part of the required contributions made to the Teachers’ Pension Fund by the teacher in accordance with section 3, such amount representing employer contributions as the Minister determines, and such amount representing interest as the Minister determines, but no such payment or payments shall be made except with the written consent of the teacher.
22.1(6.01)Notwithstanding subsection (6), where the pensionable service in respect of which a payment or payments are to be made under subsection (6) is performed and credited after 1991, no payment or payments shall be made under subsection (6) unless the pensionable service is in accordance with subparagraph 8503(3)(a)(v) of the Income Tax Regulations under the Income Tax Act (Canada).
22.1(6.1)Repealed: 1999, c.44, s.15
22.1(6.2)Notwithstanding any other provision of this Act, a person referred to in subsection (6) who prior to January 1, 1963, discontinued teaching to take advanced training at a college and who resumed employment as a teacher following completion of that training may in respect of any period of time not exceeding one year and for the purpose of any superannuation or pension fund or plan established for the benefit of employees of that approved employer, elect to pay into the Teachers’ Pension Fund an amount equal to the amount required by the approved employer in respect of that period in accordance with the reciprocal agreement and the Minister shall pay or arrange to be paid from the Teachers’ Pension Fund to the approved employer that amount and no other amount in respect of that period on behalf of that person.
22.1(7)No teacher shall be subject to the provisions of any reciprocal agreement that does not require a transfer of funds, except with his written consent.
22.1(8)Where a person ceases to be employed with an approved employer with whom the Minister has entered into a reciprocal agreement to become employed as a teacher, the Minister may receive and pay into the Teachers’ Pension Fund such amount as is paid by the approved employer in accordance with the provisions of the reciprocal agreement.
22.1(9)Notwithstanding subsection (8), where the pensionable service in respect of which a payment or payments are to be made under subsection (8) is performed and credited after 1991, no payment or payments shall be made under subsection (8) unless the pensionable service is in accordance with subparagraph 8503(3)(a)(v) of the Income Tax Regulations under the Income Tax Act (Canada).
1975, c.61, s.7; 1976, c.56, s.5; 1978, c.57, s.11; 1986, c.78, s.3; 1987, c.58, s.4; 1989, c.40, s.2; 1992, c.52, s.30; 1999, c.44, s.15; 2005, c.7, s.81